The Baltic Exchange’s main sea freight index, snapped its four-session falling streak on as the capesize index bounced back, reports Yahoo Finance.
Four-session falling streak
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped its four-session falling streak on Monday as the capesize index bounced back.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 20 points, or 0.7%, to 3,059.
Capesize Index
- The capesize index rose 72 points, or 2.1%, to 3,514, having fallen in the previous four sessions.
- Average daily earnings for Capesizes, which typically transport 150,000-tonne cargoes of iron ore, gained $597 to $29,139.
Panamax Index
- The panamax index dropped for an eleventh straight session, inching 12 points lower, or 0.3%, to 3,623, the lowest since June 24.
- Average daily earnings for Panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $108 to $32,611.
Supramax Index
The Supramax index fell 1 point to 2,774.
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Source: Yahoo Finance
